The Boston Company Asset Management plans to cut the number of brokerage firms to which its sends the bulk of its trades. Corey Griffin, chairman and ceo, said The Boston Company was still preparing for the changes. "We are thinking differently about the number of brokers we use," Griffin said at a Mellon press luncheon Tuesday.

Griffin estimated in an interview after the briefing that about one-third of the brokerage firms The Boston Company uses will take roughly 80% of The Boston Company's trades under the new plans. The move will reduce costs by putting more trades in the hands of fewer brokers, who would in turn charge lower rates for the trades. Griffin said the firm gets research from more than 100 sell-side providers, but declined to give details on how many of those were brokerage firms which The Boston Company also used for trading.